NIFTY:
NIFTY opened at 17208.30 with a gap up of 98 points. The index continued its bullish momentum and rallied further more than 150 to Record its intraday high at 17373.50. Prices then started a process of consolidation in a tight narrow range that eventually broke on the downside. A sharp decline came and prices wiped out all the gains. The index drifted further on the downside and recorded its intraday low at 17077.10.Prices have finally closed at 17101.95 near its intraday low with a loss of 8.20 points or 0.05% down. IT and PHARMA outperformed today and closed higher by more than 1%. BANK,AUTO, and FINANCIALS have led the bears today and closed lower by more than half percent.
The last two weeks were down that erases the gains came in three weeks of a rally. Moreover, a large trading range is now visible on the weekly chart. Support for this range comes at 16800 while resistance around 18300. On a daily time frame, the index is holding the support at 17000 from the past few trading days. We should avoid trading the index at least till the Budget as trading in volatile markets gives a lot of whipsaws. We should wait for prices to stabilize first and then we will plan our trade accordingly.
BANK NIFTY:
BANK NIFTY opened at 38246.60 with a gap up of 152 points. The index first consolidated in a tight narrow range t ill the afternoon and recorded its intraday high at 38421.70.The range broke on the downside and prices have seen a sharp intraday decline towards the end of today’s trading session. Prices have recorded its intraday low at 37581.50 and finally closed at 37687.50 with a loss of 407 points. Within the index, in terms of points, INDUSIND BANK contributed the highest while ICICI BANK contributed the lowest.
Last three weeks were very choppy. It is possible that we may see a direction move after the Budget. The volatility is still very high. As of now we do not have an adequate trading setup. We will get a trading opportunity soon when the volatility cools down. Till then avoid trading the index.
TECHNICAL PICKS
| COMPANY NAME | CMP | B/S | RATIONALE+ |
| BHARTIARTL | 715 | BUY | The stock is on the verge of giving the breakout on the intraday as well as the daily chart. The stock can be buy above 717 with a stop loss of 710 and for the target of 730. |
| VOLTAS | 1157 | SELL | The immediate trend of the script is bearish. There is a negative cross over of moving averages as well as of the indicators therefore it can be sold below 1152 with a stop loss of 1170 and target of 1130. |
DERIVATIVE PICKS
| Stock Name | Strike Price | Buy/Sell | CMP | Initiation | Stop Loss | Target | Remarks |
| BPCL | 380 PE | BUY | 15 | CMP | 10 | 25 | OI Increase |
| Long Buildup | Short Buildup | |||||||||
| Stocks | Price | Price% | OI % | OI | Stocks | Price | Price% | OI % | OI | |
| BAJAJ-AUTO.Feb 24 | 3500.1 | 0.01 | 679.37 | 2342000 | ABB.Feb 24 | 2265 | -5.63 | 56000 | ||
| ADANIENT.Feb 24 | 1686.25 | 0.02 | 4247.1 | 20996500 | CHAMBLFERT.Feb 24 | 430.75 | -5.15 | 3300000 | ||
| CUB.Feb 24 | 143.25 | 0.07 | 6116.67 | 12682000 | TVSMOTOR.Feb 24 | 599.25 | -4.84 | 8612800 | ||
| HAVELLS.Feb 24 | 1146.1 | 0.08 | 2514.79 | 4419000 | VOLTAS.Feb 24 | 1146.5 | -3.35 | 3894000 | ||
| JKCEMENT.Feb 24 | 3231.25 | 0.16 | 554.93 | 348425 | HEROMOTOCO.Feb 24 | 2624.25 | -3.27 | 3088500 | ||
| Short Covering | Long Unwinding | |||||||||
| Stocks | Price | Price% | OI % | OI | Stocks | Price | Price% | OI % | OI | |
| ONGC.Feb 24 | 168.6 | 2.21 | -5.85 | 42103600 | ||||||
TOP DELIVERY PERCENTAGE
| Stocks | Price | %Chg | Total Qty | Delivery | Del % | % Change | ||||
| Sectors | Price | Change % | Quantity | |||||||
| Petronet Lng Limited | 214.55 | 1.2 | 2585681 | 0 | 82.27 | Nifty 50 | 17101.95 | -0.05 | 82056 | |
| Crompton Greaves Consume | 414.85 | 0.7 | 1670053 | 0 | 82 | Nifty Bank | 37689.4 | -0.77 | 82059 | |
| Honeywell Auto India Ltd | 41901.3 | -0.9 | 2260 | 0 | 73.09 | Nifty it | 33851.95 | 1.13 | 82059 | |
| Hindustan Unilever Ltd | 2283.55 | -0.51 | 1967721 | 0 | 71.17 | Nifty Metal | 5466.05 | 0.37 | 82059 | |
| Pidilite Industries Ltd | 2475.8 | 0.61 | 440807 | 0 | 70.52 | Nifty Media | 2204.45 | 0.87 | 82059 | |
| Max Financial Services l | 913.4 | 2.14 | 639411 | 0 | 69.86 | India Vix | 20.7 | -1.71 | 82059 | |
| Hdfc Ltd. | 2516.5 | 0.53 | 4885166 | 0 | 69.81 | Nifty Fmcg | 36188.3 | 0.62 | 82059 | |
| Infosys Limited | 1686.2 | 0.45 | 10998502 | 0 | 68.76 | Nifty Pharma | 12983.05 | 1.05 | 82062 | |
| Tata Consultancy Serv Lt | 3690.05 | 1.12 | 3143862 | 0 | 67.99 | Nifty Auto | 11493.4 | -0.59 | 82059 | |
| Power Grid Corporation o | 210.2 | -2.16 | 14199037 | 0 | 66.86 | Nifty Financial Services | 17673.55 | -0.5 | 82065 | |
| Hdfc Bank Ltd. | 1463.25 | -0.79 | 12462604 | 0 | 63.24 | |||||
UPCOMING ECONOMIC DATA
| Domestic International | |
| INR: Federal Fiscal Deficit (Dec) on 31st January, 2022
INR: Infrastructure Output (YoY) (Dec) on 31st January, 2022 |
•USD: ISM Manufacturing PMI (Jan) on 1st February 2022
• |
NEWS UPDATES
- Adani Total Gas Ltd won city gas rights in 14 out of the 52 geographical areas (GAs) for which Petroleum and Natural Gas Regulatory Board (PNGRB) declared results on Friday. Hyderabad-based Megha Engineering and Infrastructure Ltd (MEIL) won 13 GAs, while state-owned Indian Oil Corporation (IOC) was adjudged winner in 8 GAs. As many as 65 GAs were offered for bidding in the 11th city gas distribution (CGD) licensing round. Of this, bids were received for 61 GAs but results for only 52 GAs were announced on Friday.
- Happiest Minds Technologies Ltd on Friday reported a 16.1 per cent jump in consolidated net profit to Rs 48.92 crore for the December 2021 quarter. The company had posted a net profit of Rs 42.15 crore in the year-ago period. Its revenue during October-December 2021 grew 47.2 per cent to Rs 283.94 crore as compared with Rs 192.84 crore in the year-ago period, a regulatory filing said.
- Oberoi Realty Ltd reported a 63 per cent increase in its consolidated net profit at Rs 467.53 crore for the quarter ended December. Its net profit stood at Rs 286.65 crore in the year-ago period. Total income rose to Rs 846.19 crore during October-December period of this fiscal year from Rs 837.57 crore in the corresponding period of the previous year.
- Larsen & Toubro Ltd.’s third-quarter revenue rose as orders picked up with an improvement in construction activities. Revenue of India’s largest engineering-to-construction company increased 11.1% year-on-year to Rs 39,562.9 crore in the three months ended December, according to an exchange filing. That compares with the Rs 39,732.25-crore consensus estimate of analysts tracked by Bloomberg. Net profit fell 16.7% to Rs 2,055 crore, compared with the estimated Rs 2,392.74 crore.
Source: Economic Times, Indian Express ,Business Today, Livemint, Business Standard, Bloomberg Quint.
BOARD MEETINGS
| Company Name | Purpose | Ex-Date | Company Name | Purpose | Ex-Date |
| AARTIDRUGS | Audited Results;Interim Dividend | 31-Jan-22 | KPITTECH | Interim Dividend;Quarterly Results | 31-Jan-22 |
| ADFFOODS | Quarterly Results | 31-Jan-22 | KRL | Quarterly Results | 31-Jan-22 |
| AJANTPHARM | Quarterly Results | 31-Jan-22 | KRSNAA | Quarterly Results | 31-Jan-22 |
| ANDHRAPAP | Quarterly Results | 31-Jan-22 | LKPSEC | Quarterly Results | 31-Jan-22 |
| CYBERMEDIA | Quarterly Results | 31-Jan-22 | MERCURYLAB | General;Quarterly Results | 31-Jan-22 |
| DAAWAT | Interim Dividend;Quarterly Results | 31-Jan-22 | NAVINFLUOR | Quarterly Results | 31-Jan-22 |
| DLF | Quarterly Results | 31-Jan-22 | NAVNETEDUL | Quarterly Results | 31-Jan-22 |
| DWARKESH | Quarterly Results | 31-Jan-22 | ORIENTCEM | Interim Dividend;Quarterly Results | 31-Jan-22 |
| DYNAMIC | Quarterly Results | 31-Jan-22 | POLYMED | General;Quarterly Results | 31-Jan-22 |
| EDELWEISS | Quarterly Results | 31-Jan-22 | RACLGEAR | Quarterly Results | 31-Jan-22 |
| EMAMIPAP | Quarterly Results | 31-Jan-22 | SCI | Quarterly Results | 31-Jan-22 |
| EXIDEIND | Interim Dividend;Quarterly Results | 31-Jan-22 | SMCGLOBAL | Quarterly Results | 31-Jan-22 |
| GICHSGFIN | Quarterly Results | 31-Jan-22 | SUBEX | Quarterly Results | 31-Jan-22 |
| GPTINFRA | Interim Dividend;Quarterly Results | 31-Jan-22 | SUNPHARMA | Quarterly Results | 31-Jan-22 |
| HESTERBIO | Quarterly Results | 31-Jan-22 | SUVEN | Quarterly Results | 31-Jan-22 |
| HINDPETRO | Quarterly Results | 31-Jan-22 | TATAMOTORS | Quarterly Results | 31-Jan-22 |
| INFIBEAM | Bonus issue;Dividend;Pref. Issue;Results | 31-Jan-22 | TATAMTRDVR | Quarterly Results | 31-Jan-22 |
| IOC | Interim Dividend;Quarterly Results | 31-Jan-22 | UCOBANK | Quarterly Results | 31-Jan-22 |
| JINDALSAW | Quarterly Results | 31-Jan-22 | UPL | Quarterly Results | 31-Jan-22 |
| KEC | Quarterly Results | 31-Jan-22 | VINATIORGA | Quarterly Results | 31-Jan-22 |
CORPORATE ACTION
| Company Name | Ex-Date | Purpose | Company Name | Ex-Date | Purpose |
| CCL | 31-Jan-22 | Interim Dividend – Rs. – 3.00 | SAREGAMA | 31-Jan-22 | Interim Dividend – Rs. – 30.00 |
| MASTEK | 31-Jan-22 | Interim Dividend – Rs. – 7.00 | VISAKAIND | 31-Jan-22 | Interim Dividend – Rs. – 7.00 |
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